Okta, Inc. $OKTA Shares Acquired by US Bancorp DE

Key Points

• US Bancorp DE increased its holdings in Okta, Inc. by 478% during the second quarter, acquiring an additional 338,143 shares for a total of 408,888 shares valued at approximately $40.9 million.
• Despite fluctuating price targets from various analysts, twenty-two investment analysts rate Okta as a Buy, with an average target price of $118.94.
• Okta's Q2 earnings report showed a 12.7% year-over-year revenue growth to $728 million, exceeding analysts' expectations, and EPS of $0.91 surpassing estimates by $0.07.

US Bancorp DE raised its position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 478.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 408,888 shares of the company's stock after acquiring an additional 338,143 shares during the quarter. US Bancorp DE owned approximately 0.23% of Okta worth $40,877,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in OKTA. Farther Finance Advisors LLC grew its position in shares of Okta by 283.5% in the first quarter. Farther Finance Advisors LLC now owns 2,228 shares of the company's stock valued at $233,000 after purchasing an additional 1,647 shares in the last quarter. Yousif Capital Management LLC purchased a new stake in shares of Okta in the first quarter valued at approximately $222,000. GAMMA Investing LLC grew its position in shares of Okta by 255.3% in the first quarter. GAMMA Investing LLC now owns 1,201 shares of the company's stock valued at $126,000 after purchasing an additional 863 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Okta by 110.1% in the first quarter. Assenagon Asset Management S.A. now owns 125,948 shares of the company's stock valued at $13,252,000 after purchasing an additional 65,997 shares in the last quarter. Finally, CX Institutional purchased a new stake in shares of Okta in the first quarter valued at approximately $52,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on OKTA shares. DA Davidson restated a "buy" rating and issued a $140.00 price target on shares of Okta in a research report on Friday, September 26th. Scotiabank dropped their price target on Okta from $115.00 to $105.00 and set a "sector perform" rating for the company in a research report on Wednesday, August 27th. BMO Capital Markets lowered their price objective on Okta from $132.00 to $112.00 and set a "market perform" rating for the company in a research report on Wednesday, August 27th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $115.00 price objective on shares of Okta in a research report on Friday, September 26th. Finally, Truist Financial upgraded Okta from a "hold" rating to a "buy" rating and increased their price objective for the stock from $100.00 to $125.00 in a research report on Monday, August 25th. Twenty-two investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $118.94.

Okta Stock Up 1.1%

OKTA opened at $93.64 on Friday. Okta, Inc. has a 52 week low of $70.92 and a 52 week high of $127.57. The business has a fifty day simple moving average of $92.02 and a 200-day simple moving average of $100.06. The firm has a market cap of $16.39 billion, a P/E ratio of 110.16, a P/E/G ratio of 4.55 and a beta of 0.84.

Okta (NASDAQ:OKTA - Get Free Report) last released its quarterly earnings results on Tuesday, August 26th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.84 by $0.07. Okta had a return on equity of 3.31% and a net margin of 6.08%.The business had revenue of $728,000 billion during the quarter, compared to analyst estimates of $711.84 million. During the same period last year, the business posted $0.72 earnings per share. The company's quarterly revenue was up 12.7% on a year-over-year basis. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. Sell-side analysts expect that Okta, Inc. will post 0.42 earnings per share for the current year.

Insider Transactions at Okta

In other news, CEO Todd Mckinnon sold 31,968 shares of the firm's stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $92.33, for a total transaction of $2,951,605.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Jonathan James Addison sold 9,000 shares of the firm's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $100.00, for a total value of $900,000.00. Following the transaction, the executive owned 7,067 shares of the company's stock, valued at approximately $706,700. This represents a 56.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 147,003 shares of company stock valued at $13,769,238. Corporate insiders own 5.68% of the company's stock.

About Okta

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.

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